Find a suitable ASIC resistant hashing algo

[alexdovzhanyn]

Currently we're using SHA256 for the block hashes. While this is fine and secure, in the interest of leveling the playing field for miners, lets find a good ASIC-resistant hashing algorithm to use instead.

[Nijinsha]

Some of the altcoins achieve this by using algorithms that use a lot of memory. Most of the ASIC machines will not have high memory thus making the hashing algorithm ASIC resistant.

[alexdovzhanyn]

Would you like to self-assign this and try to find a few algorithms we might be able to use (keeping in mind that we'd prefer to use an elixir/erlang library)?

[Nijinsha]

Just a thought : Instead of using one algorithm, can't we change the algorithm for each block based on some criteria. No ASIC machine can be configured to work for multiple algorithm(But a CPU can, that is what makes it general purpose). So people with ASIC can mine a selected number of blocks but never makes mining centralized to only ASIC machines.

[alexdovzhanyn]

I think thats an interesting idea, but in practice it would br difficult to enforce, since consensus depends partially on nodes being able to identify which algorithm is used, and it would also make block time wildly unpredictable, since each algorithm has different speeds and efficiencies (plus each gpu has a different performance based on the algorithm thats used) so there wouldn't be much incentive for a miner if they can't predict roughly how likely they are to find the next hash

[Nijinsha]

https://steemit.com/cryptocurrency/@buggedout/asic-resistance-is-a-myth-dash-is-conquered
This article does a great analysis on ASIC resistant algorithms.
The article says that ASIC resistant hash algorithm is a myth because, if a coin raises to a value which makes it profitable for mining , ASIC manufactures will develop a ASIC just for the algorithm. This was the trend for every coin that came to the market. DASH, Litecoin all started with a ASIC resistant algorithm but eventually ASICs were designed for mining them. Only ethHASH(algorithm used by Ethereum ) does not have a mining ASIC designed for it just because moving to POS was in its road map and if people buy an ASIC it becomes obsolete when they move to POS.

[Nijinsha]

Attaching a c library containing SHA3 and a lot of other algorithms.
https://github.com/rhash/RHash